Home Loan and Morgage Services

Conventional Loans

Fixed Rate

Enjoy the confidence of predictable principal and interest payments with a Conventional Fixed Rate Mortgage from Springs Valley. With an interest rate that remains the same throughout the life of the loan, this option provides payment stability and may be ideal for homebuyers planning to stay in their home long-term.

Adjustable Rate (ARMs)

Looking for lower initial payments? A Conventional Adjustable Rate Mortgage (ARM) from Springs Valley may offer a lower initial interest rate and payment for a set period before adjusting periodically based on the loan terms and applicable index. Because the interest rate and payment may increase after the initial fixed-rate period, an ARM may be a good fit for borrowers who plan to move, sell, or refinance within a few years. Contact a Mortgage Loan Officer for current terms and disclosures.

First-Time Home Buyers Program

Springs Valley offers mortgage options for eligible first-time home buyers. Depending on the loan program and applicant qualifications, options may include lower down payment requirements or assistance with down payment and closing costs. Availability, eligibility, rates, repayment terms, and required borrower contribution vary by program and are subject to credit review and approval.

Home Equity Loans

Let the equity in your home work for you with a Springs Valley home equity loan. Choose a line of credit or a fixed rate equity mortgage loan, based on what fits your budget. Product type, credit limit or loan amount, repayment terms, rate type, closing costs, and fees vary by product and borrower qualifications. If you have questions or would like to speak with a Mortgage Loan Officer, please contact us.

Loan Error Resolution Form

Construction Loans

If you are planning to build a new home or remodel an existing home, Springs Valley can help you review available construction loan options. Depending on the product and borrower qualifications, options may include rate-lock features or defined payment terms at closing. Loan terms, rate-lock availability, disbursement requirements, inspections, and documentation requirements vary and are subject to credit review and approval.

Post-Frame Loans

Springs Valley offers financing options for eligible post-frame home construction projects. Post-frame construction financing may differ from conventional home financing, and options may vary if the borrower acts as general contractor. Eligibility, collateral requirements, inspections, disbursement procedures, and loan terms are subject to review and approval.

Veterans Administration (VA)

Eligible Veterans, servicemembers, and other qualified borrowers may qualify for VA loan options, including purchase or refinance transactions. VA program benefits may include low or no down payment options for eligible borrowers. Refinance transactions are subject to credit review, program requirements, and a determination that the refinance meets applicable loan requirements. Springs Valley Bank & Trust Company is not affiliated with or endorsed by the U.S. Department of Veterans Affairs.

• Uses: Purchase and refinance
• Rates: Fixed and adjustable rate
• Closing Cost: VA rules limit the amount of closing costs you’re required to pay
• Types: Primary residence 1-4 units
• Down payment: Little to no down payment
• Credit Score: See us for qualifications
• Private Mortgage Insurance (PMI): Most low, down payment mortgages require PMI which raises your monthly payments. VA Loans save you money because PMI is not required.

Federal Housing Administration (FHA)

FHA Loans are insured mortgage loans that are backed by the Federal Housing Administration (FHA). The federal government insures the loan in order to reduce their risk of loss if a borrower defaults on their mortgage payments. There are several qualifications you'll learn about when you apply for your loan and speak with a mortgage loan officer at Springs Valley. Springs Valley Bank & Trust Company is not affiliated with or endorsed by the Federal Housing Administration.

• Uses: Purchase and refinance
• Rates: Fixed and adjustable rate
• Closing Cost: Average 2%-5% of loan amount but can be gifted along with down payment
• Down payment: Low down payment
• Credit Score: See us for qualifications

US Department of Agriculture (USDA)

USDA Rural Development loan programs may help eligible borrowers finance homes in qualifying rural or suburban areas. Program availability, income limits, property eligibility, down payment options, rates, repayment terms, and closing-cost treatment are subject to USDA program requirements and lender underwriting. A Springs Valley Mortgage Loan Officer can help you review whether a USDA option may be available for your situation. Springs Valley Bank & Trust Company is not affiliated with or endorsed by the U.S. Department of Agriculture.